Taiwan Liposome Company Pops 85% Amid Submitting New Drug

Shares of NASDAQ: TLC instantly jumps from $5.16 to $9.45 in the premarket after the management announced submitting TLC19 Hydroxychloroquine Liposome Inhalation Suspension to the Taiwan Food and Drug Administration (TFDA) for the healing COVID-19 victims.

TLC struggles in the stock market since July 6 when shares cost around $6. The penny stock now becomes over $9 and perhaps, at the end of the day investors could be willing to buy it for $11 due to increasing demand for the cheap shares.

It is not late to join the TLC band as the existing drug will be tested clinically and may be improved. Hence, after hearing good news about tests TLC, most probably, will rise higher.